Aspects of Contract and Negligence for Business in the United Kingdom - Essay Example

Aspects of Contract and Negligence for Business in United Kingdom TASK Elements of a ValidContract A contract is any agreement which is legally binding between parties. It is more or less of a promise which if breached attracts legal intervention. There are elements which have to be present so as to qualify an agreement as valid and as a legally binding contract (Grantham 111). These include: Offer; Acceptance; Intention; Consideration; Legality; Formalities; and Capacity. The key ones are herein discussed. An offer is an expression of willingness to have a contract under specified sets of terms and conditions. This is made by an offeror and the focus here is that in case the offer is accepted, then the offeror is bound by the contract. In other words, an offer matches an individual’s manifestation about his or her intent to get into a binding contract with somebody else. Acceptance on the other hand refers to an expression of agreement which is unconditional and absolute. This is in regards to all terms formulated in a given offer. In this case, it refers to an assent by an offeree who is responsible for offering a legal contract (Berle 435). It can either be in writing or oral though it has to reflect on the original offer agreed upon. Capacity entails the capability of an individual to get into a legal agreement considering the fact that other people such as the insane, the drunkards and infants may not be able to enter an agreement. Intention is another element of a valid contract and it simply entails intimating to get into an agreement. These elements play important roles as far as contracts are concerned. One of the importance of the elements is that they help in protecting an individual from potential problems for instance from overcharging or from losing deposit (Mitchell). They also ensure that one has a guarantee for complete and quality work. They also help in clarifying expectations of different parties involved into a contract as well as in knowing how possible conflicts can be resolved. Apart from these, they are important in that they enable parties to safeguard their resources. Typesof Contract Contracts are in different categories and they all have their impacts and relevance in applications. Written contracts are usually written and sealed off in official documents. One of the impacts of a written contract is that they get into operation once they have been adopted and delivered between the concerned parties. Friedman (105) notes that they also bind all the parties involved within their terms without considering whether the terms have been read or not. There are contracts which require written evidence. These contracts have their evidences taking effect upon agreement and they help in preventing perjury and frauds. There are also sealed contracts which are usually made by a party and delivered to another party after sealing them (Wedderburn 99). These types of contracts are important in that they check on misconceptions. Finally, there are simple contracts which can be oral, partly written, fully written, oral or even implied. Their impacts are usually dependent on what is being agreed upon. Terms in a Contract Conditions in contracts mean the operating regulations between the contracting parties. One party’s performance is conditioned based on terms being operated upon. This further implies that termination remedy is present with damages or if there are no serious effects from a breach (Drew and Skitmore 228).Warranties are terms which are less essential and are mostly implied as collateral with regards to the key purpose. With warranties, there are no rights to termination. However, damages reflecting on actual losses are pertinent. Innominate terms are those for which there are no advance prescriptions for remedies. There is termination if effects felt upon a breach are serious and capable of depriving innocent parties of contractual benefits. TASK 2 It is possible that you hold Direct Training to the price they stated on the website. However, there are a number of things which you will have to take note of regarding the offer. Following your intent which also differs depending on the cases in reference, there are elements of considerations which have to be abided to (Davies 75). This has to also consider the fact that agreements come in different forms. It is therefore important to evaluate your stand before you take any step especially with regards to the pricing. Errors indeed do occur as Direct Training claim. But then, you have to accept the fact that there are their pricing remains as set even though an error occurred when they posted the pricing information on their website. Another thing which is important to note is the fact that you had acceptance to the offer and agreements are always binding in such cases. You need to verify having gotten access to their terms and conditions as far as their products are concerned. It is from their terms and conditions that you as a party in the transaction will be bound to have liberty regarding your stand to hold Direct Training to the price they posted on their website. Nonetheless, you have to be aware that agreements pegged on terms and conditions are never enough for legal contracts unless if there is relationship between Direct Training and you on creation of legalized relations. You can hold Direct Training to the price they posted on their website, but you need also to consider that there are cases which cannot have proper legal binding agreements. Of course there is need for evidence but then whenever there is no contractual basis there is no way to enforce a claim (Berle 436). A good example is when two parties decide to come up with a legally binding relationship. This can only be determined by way of engaging objectives assessed to be relevant to the relationship itself. There may not be any bases for holding onto the price posted on the website if indeed the genuine price is $135. This is because genuineness of a price is not dependent on the capacity to have an agreement between parties, but influenced by terms and conditions. The terms and conditions are applicable whether parties involved are aware of them or not. Furthermore, it is advisable to be aware that there are limitations on capacity to agreements. This has to consider certain circumstances depending on the situation. TASK 3 Legality of Asad’s Agreement The agreement which Asad entered was not legally binding in that the approach it is made is not warranted by any legal considerations. Abdul’s form of agreement approach was his own making and written to suit standardized requirements. This meant that there was a lapse in the way the agreement was entered into. Furthermore, Asad was still young to make decisions on his own without parental consent. To make it worse, Asad entered the agreement without knowledge of possible consequences (Wedderburn 99). It is also probably that Abdul on the other hand did not really mention to Asad or made him aware of possible outcomes from the competition. Contractual formalities involving children like the case of Asad and Abdul are illegal when the minor is left to enter agreement without involving the parents. The case of Abdul is not legally binding in that Asad’s mother was not aware of what her son’s intents were. She had to intervene upon learning of what Asad was intending to get into. All the agreements need to involve relevant parties so as to help in verifying the requirements for contacts to be entered into. A requirement to have a contract signed upon having been written is important. This is important for the purpose of having evidential proof in case of problems arising (Drew and Skitmore 238). However, this can only be ascertained to when the relevant parties are represented. For the case herein, no legal binding is present since Abdul opted to engage the minor without parent’s awareness. Standard Form Contracts Standard forms of contacts have a number of advantages one being that they allow for execution of agreements which exist with definite obligations. Friedman (107) points out that the obligations are also advantageous in that they help in performing transactions which in the future can be referred to for reference according to implied contractual terms and conditions. Standard form contracts are also of advantage in that they guarantee quality based on the form of circumstances being referred to. This not only looks into the basis which they agreements are made, but also ensures that there is accountability as well as efficiency in the description of transactional performances. Another advantage is that they define legal consents with basis on terms of the implied contract thereby ensuring relevance in whichever agreement entered (Grantham 110). This also ensures that there is a more specified identification of features held in the contract being followed.On disadvantages, standard form contracts normally leave out other transactions as well as some parties who are of relevance to the agreement being entered into. TASK 4 Any business environment has its systems of agreements especially when there is involvement between two parties. This can either be between individuals or business entities. In such cases there is need for mutually consented agreements to be used between the parties therein. This is more effective if a formal agreement is entered into through writing of contracts reflecting on the specific operations and terms of reference (Davies 75). Through such written agreements, there is assurance of provision of legal documentations which clearly state expectations of the involved parties. This has importance because it will help in resolving possible negative outcomes or situations which may arise during the period which the agreement is entered. Following this, Hotsafe should have known that contracts are usually legal hence enforceable through legal instruments (Mitchell). This is with regard to the fact that contracts represent instruments which businesses use for safeguarding their operations and resources as well. There are also limitations which are bound with obligations of service as long as contracts are entered into. Through such obligations there are outlined operations which point out to specific businesses under contractual agreements. This has to take care of typical contract requirements which a business enters into with other parties so as to perform certain operations or offer certain services (Drew and Skitmore 239). This should look into information related to terms and conditions of agreements between different parties involved in the business. Therefore, there is need to enter into agreements which take care of compensations in case a party fails to deliver as expected of it. There are also cases whereby agreements are never completed between parties. It should be remembered that businesses have their contracts enforced through agreements which can be effective especially in prohibiting offers which can be of negative consequences to either parties. Through such agreements, there is strategic relationship being created between the parties as well as room for provision of unique offers (Davies 75). Limitations to the kind of offers presented call for legal advices which seek to bind contracts based on business functions. Therefore, Hotsafe should consider entering into businesses through agreements which are specific on guided contractual terms and conditions of intents. Works Cited Berle, Andrea. ‘Modern Functions of the Corporate System.’ Columbia Law Review 62. 3 (1962): 433-449 Davies, Patrick. 'Workers on the Board of the European Company?’Industrial Law Journal 32. 2 (2003): 75. Drew, Stevenson, and Skitmore. “Competitiveness in bidding: a consultant's perspective.” Construction Management and Economics Journal 10 (1992): 227-47. Friedman, Leonard. “A competitive bidding strategy.” Journal of Operations Research 1.4 (1956): 104-12. Grantham, Richard. 'The Doctrinal Basis of Company Law.' 57 Cambridge Law Journal (1998): 554. Manne, George. ‘Mergers and the Market for Corporate Control.’ 73 Journal of Political Economy (1965): 110. Mitchell, Careen. 'Lifting the Corporate Veil in the English Courts: An Empirical Study.' 3 Company, Financial and Insolvency Law Review 15 (1993). Wedderburn, Kelvins. 'Employees, Partnership and Company Law.’ Industrial Law Journal 31. 2 (2002): 99. Read More